Under the title “The Financial Markets and their role in building a knowledge and innovation-based economy “

H.E. Sultan  Al Mansoori opens the SCA Annual Conference

  H.E. Sultan bin Saeed Al Mansoori, Minister of Economy and Chairman of the Board of Directors of the Securities & Commodities Authority, opened the SCA annual conference held under the title “The Financial Markets and their role in building an economy based on knowledge and innovation“ in Abu Dhabi.

The conference was attended by a number of CEOs of the financial markets and exchanges in the UAE and the GCC, in addition to experts and specialists from 40 countries worldwide, including the representatives of 22 countries in the IOSCO African-Middle East Regional Committee.

In his speech, H.E. Sultan bin Saeed Al Mansoori affirmed the important role of the financial markets in the knowledge and innovation-based economy and he addressed the status of the local financial markets in 2016.He said that the ADX and DFM indexes attained growth of 5.6% and 12.1% respectively in the past year, and that 155.5 billion securities in the amount of $49.7 billion were traded.

He added that by the end of 2016 the market value increased to around $222 billion and the number of companies listed in the UAE markets reached 126 while the ratio of market value to the gross domestic product reached 55.87% and the ratio of trading value to the GDP reached 12.5%.